Bitcoin remains weak while U.S. stock markets rise amid geopolitical relief
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U.S. stock exchanges started the week higher, driven by easing tensions between the U.S. and Iran and by a Supreme Court decision that preserved, at least for now, Lisa Cook's stay at the Federal Reserve. While Wall Street reacted positively, Bitcoin remained without strength to recover the US$ 60 thousand mark, trading around US$ 59.686, with a slight drop of 0,20%.
Among the main market indicators, the Nasdaq led the gains by rising 1,24%, to 25.612,07 points. The S&P 500 advanced 0,71%, to 7.406,36 points, while the Dow Jones Industrial Average posted a gain of 0,45%, to 52.111,83 points.
Going against the main indexes, the Russell 2000, which brings together smaller-cap companies, fell 1,02%, to 2.979,50 points, indicating that buying movement remained concentrated in the companies with the highest market value. Meanwhile, the volatility index VIX fell 0,71%, to 18,28 points, signaling a reduction in risk aversion among investors.
One of the factors that supported optimism was the decision by the United States Supreme Court to reject the attempt by the administration of current U.S. president Donald Trump to remove Lisa Cook from the Federal Reserve. Although the court expanded the president's powers to replace leaders of other independent agencies, it made an exception to preserve the autonomy of the American central bank.
In addition to the institutional issue, the market reacted positively to news that Washington and Tehran agreed to halt the retaliatory attacks recorded over the weekend. The two countries also confirmed a new round of negotiations for Tuesday, in Doha, Qatar, in an attempt to reduce tensions in the region.
The conflict had increased concerns about possible impacts on global energy supply, especially due to the risks involving the Strait of Hormuz, one of the main maritime routes for oil transportation.
Even with the easing of tensions, commodity prices remained elevated. Crude oil for August delivery was trading at US$ 70,42 per barrel, up 1,72%, while the market continued to assess the risks of further disruptions to global supply.
Another highlight of the trading session was the decline in gold. The precious metal was down 1,53%, trading at US$ 4.033,50, a move that reflected the migration of some investors to assets considered riskier amid improving market sentiment.
Investors' attention also remains focused on the June jobs report, known as payroll, which will be released exceptionally on Thursday due to the United States Independence Day holiday. The indicator is considered one of the main gauges of the American economy and may influence the Federal Reserve's next monetary policy decisions.
While U.S. stock markets recovered part of their recent losses, Bitcoin continued trading below the psychological resistance of US$ 60 thousand, showing difficulty in keeping pace with the risk appetite seen on Wall Street.